Transfer of Certificates. As soon as practicable after each surrender of Call Warrants in whole or in part on the Call Date and upon satisfaction of all other requirements described in the Call Warrants and in Section 1.1 hereof, the Warrant Agent shall instruct the Trustee as follows: (a) if Call Warrants are being exercised by any Warrant Holder other than the Depositor or any Affiliate of the Depositor, to cause the Called Certificates to reflect the Warrant Holder's beneficial ownership of such Certificates and if such Call Notice is also deemed to be a notice of Optional Exchange, to cause a distribution of Underlying Securities to the Warrant Holder in accordance with Section 7(a) of the Series Supplement, provided, however, that if such Call Notice and Optional Exchange is in connection with a tender offer or a redemption, the Warrant Agent shall instruct the Trustee to distribute to the exercising Warrant Holder the excess of the tender offer or redemption proceeds over the Call Price pursuant to Section 7(g)(iii) or Section 7(h)(iii), as applicable, of the Series Supplement, or (b) if the Call Warrants are being exercised by the Depositor or any Affiliate of the Depositor, to cause the Called Underlying Securities to be sold pursuant to Section 13 of the Series Supplement and to distribute the proceeds of such sale to the Warrant Holder. If such exercise is in part only, the Warrant Agent shall (i) in the case of a Global Call Warrant, cause the Registered Warrant Amount to be decreased to reflect the outstanding Call Warrants of the Warrant Holder and (ii) in the case of a Certificated Call Warrant, instruct the Trustee to authenticate new Call Warrants of like tenor, representing the outstanding Call Warrants of the Warrant Holder, and the Warrant Agent shall deliver such Call Warrants to the Warrant Holder. In each case, the Trustee shall act in accordance with such instructions.
Appears in 18 contracts
Sources: Series Supplement (Lehman Abs Corp Verizon New York Debenture Backed 2004-1), Series Supplement (Lehman Abs Corp Kraft Foods Note Backed Series 2003-11), Corporate Backed Trust Certificates (Lehman Abs Corp Verizon New York Debenture Backed 2004-1)
Transfer of Certificates. As soon as practicable after each surrender of Call Warrants in whole or in part on the Call Date and upon satisfaction of all other requirements described in the Call Warrants and in Section 1.1 hereof, the Warrant Agent shall instruct the Trustee as follows:
(a) if Call Warrants are being exercised by any Warrant Holder other than the Depositor or any Affiliate of the Depositor, to cause the Called Certificates to reflect the Warrant Holder's beneficial ownership of such Certificates and if such Call Notice is also deemed to be a notice of Optional Exchange, to cause a distribution of Underlying Securities to the Warrant Holder in accordance with Section 7(a) of the Series Supplement, provided, however, that if such Call Notice and Optional Exchange is in connection with a tender offer or a redemption, the Warrant Agent shall instruct the Trustee to distribute to the exercising Warrant Holder the excess of the tender offer or redemption proceeds over the Call Price pursuant to Section 7(g)(iii) or Section 7(h)(iii), as applicable, of the Series Supplement, or
(b) if the Call Warrants are being exercised by the Depositor or any Affiliate of the Depositor, to cause the Called Underlying Securities to be sold pursuant to Section 13 of the Series Supplement and to distribute the proceeds of such sale to the Warrant Holder. If such exercise is in part only, the Warrant Agent shall (i) in the case of a Global Call Warrant, cause the Registered Warrant Amount to be decreased to reflect the outstanding Call Warrants of the Warrant Holder and (ii) in the case of a Certificated Call Warrant, instruct the Trustee to authenticate new Call Warrants of like tenor, representing the outstanding Call Warrants of the Warrant Holder, Holder and the Warrant Agent shall deliver such Call Warrants to the Warrant Holder. In each case, the Trustee shall act in accordance with such instructions.
Appears in 9 contracts
Sources: Series Supplement (Lehman Abs Corp), Series Supplement (Lehman Abs Corp), Series Supplement (Lehman Abs Corp Kinder Morgan Deben Backed Ser 2002-6)
Transfer of Certificates. As soon as practicable after each surrender of Call Warrants in whole or in part on the Call Date and upon satisfaction of all other requirements described in the Call Warrants and in Section 1.1 hereof, the Warrant Agent shall instruct the Trustee as follows:
(a) if Call Warrants are being exercised by any Warrant Holder other than the Depositor or any Affiliate of the Depositor, to cause the Called Certificates to reflect the Warrant Holder's beneficial ownership of such Certificates and if such Call Notice is also deemed to be a notice of Optional Exchange, to cause a distribution of Underlying Securities to the Warrant Holder in accordance with Section 7(a) of the Series Supplement, provided, however, that if such a Call Notice and Optional Exchange is in connection with a tender offer or a redemptionoffer, the Warrant Agent shall instruct the Trustee to distribute to the exercising Warrant Holder the excess of the tender offer or redemption proceeds over the Call Price pursuant to Section 7(g)(iii) or Section 7(h)(iii), as applicable, of the Series Supplement, or
(b) if the Call Warrants are being exercised by the Depositor or any Affiliate of the Depositor, to cause the Called Underlying Securities to be sold pursuant to Section 13 of the Series Supplement and to distribute the proceeds of such sale to the Warrant Holder. If such exercise is in part only, the Warrant Agent shall (i) in the case of a Global Call Warrant, cause the Registered Warrant Amount to be decreased to reflect the outstanding Call Warrants of the Warrant Holder and (ii) in the case of a Certificated Call Warrant, instruct the Trustee to authenticate new Call Warrants of like tenor, representing the outstanding Call Warrants of the Warrant Holder, Holder and the Warrant Agent shall deliver such Call Warrants to the Warrant Holder. In each case, the Trustee shall act in accordance with such instructions.
Appears in 9 contracts
Sources: Series Supplement (Lehman Abs Corp Motorola Debenture Backed Series 2002 12), Series Supplement (Bristol Myers Squibb Debenture Backed Series 2002-18), Series Supplement (Lehman Abs Corp)
Transfer of Certificates. As soon as practicable after each surrender of Call Warrants in whole or in part on the Call Date and upon satisfaction of all other requirements described in the Call Warrants and in Section 1.1 hereof, the Warrant Agent shall instruct the Trustee as follows:
(a) if Call Warrants are being exercised by any Warrant Holder other than the Depositor or any Affiliate of the Depositor, to cause the Called Certificates to reflect the Warrant Holder's beneficial ownership of such Certificates and if such Call Notice is also deemed to be a notice of Optional Exchange, to cause a distribution of Underlying Securities to the Warrant Holder in accordance with Section 7(a) of the Series Supplement, provided, however, that if such a Call Notice and Optional Exchange is in connection with a tender offer or a redemption, the Warrant Agent shall instruct the Trustee to distribute to the exercising Warrant Holder the excess of the tender offer or redemption proceeds over the Call Price pursuant to Section 7(g)(iii) or Section 7(h)(iii), as applicable, of the Series Supplement, or
(b) if the Call Warrants are being exercised by the Depositor or any Affiliate of the Depositor, to cause the Called Underlying Securities to be sold pursuant to Section 13 of the Series Supplement and to distribute the proceeds of such sale to the Warrant Holder. If such exercise is in part only, the Warrant Agent shall (i) in the case of a Global Call Warrant, cause the Registered Warrant Amount to be decreased to reflect the outstanding Call Warrants of the Warrant Holder and (ii) in the case of a Certificated Call Warrant, instruct the Trustee to authenticate new Call Warrants of like tenor, representing the outstanding Call Warrants of the Warrant Holder, Holder and the Warrant Agent shall deliver such Call Warrants to the Warrant Holder. In each case, the Trustee shall act in accordance with such instructions.
Appears in 8 contracts
Sources: Series Supplement (Lehman Abs Corp Boeing Note Backed Series 2003 7), Series Supplement (Lehman Abs Corp), Series Supplement (HSBC Debenture Backed Series 2003-4)
Transfer of Certificates. As soon as practicable after each surrender of Call Warrants in whole or in part on the Call Date and upon satisfaction of all other requirements described in the Call Warrants and in Section 1.1 hereof, the Warrant Agent shall instruct the Trustee as follows:
(ai) if Call Warrants are being exercised by any Warrant Holder other than the Depositor or any Affiliate of the Depositor, to cause the Called Certificates to reflect the Warrant Holder's beneficial ownership of such Certificates and if such Call Notice is also deemed to be a notice of Optional Exchange, to cause a distribution of Underlying Securities to the Warrant Holder in accordance with Section 7(a) of the Series Supplement, provided, however, that if such a Call Notice and Optional Exchange is in connection with a tender offer or a redemptionoffer, the Warrant Agent shall instruct the Trustee to distribute to the exercising Warrant Holder the excess of the tender offer or redemption proceeds over the Call Price pursuant to Section 7(g)(iii) or Section 7(h)(iii), as applicable, of the Series Supplement, or
(bii) if the Call Warrants are being exercised by the Depositor or any Affiliate of the Depositor, to cause the Called Underlying Securities to be sold pursuant to Section 13 of the Series Supplement and to distribute the proceeds of such sale to the Warrant Holder. If such exercise is in part only, the Warrant Agent shall (i) in the case of a Global Call Warrant, cause the Registered Warrant Amount to be decreased to reflect the outstanding Call Warrants of the Warrant Holder and (ii) in the case of a Certificated Call Warrant, instruct the Trustee to authenticate new Call Warrants of like tenor, representing the outstanding Call Warrants of the Warrant Holder, Holder and the Warrant Agent shall deliver such Call Warrants to the Warrant Holder. In each case, the Trustee shall act in accordance with such instructions.
Appears in 5 contracts
Sources: Corporate Backed Trust Certificates (Lehman Abs Corp), Series Supplement (Lehman Abs Corp At&t Wireless Serv Note Back Ser 2002 7), Series Supplement (Lehman Abs Corp Corp Backed Trust Certs Ser 02 17 Class A1)
Transfer of Certificates. As soon as practicable after each surrender of Call Warrants in whole or in part on the Call Date and upon satisfaction of all other requirements described in the Call Warrants and in Section 1.1 hereof, the Warrant Agent shall instruct the Trustee as follows:
(a) if Call Warrants are being exercised by any Warrant Holder other than the Depositor or any Affiliate of the Depositor, to cause the Called Certificates to reflect the Warrant Holder's beneficial ownership of such Certificates and if such Call Notice is also deemed to be a notice of Optional ExchangeExchange (it being expressly understood that any Optional Exchange must comply with provisions of Section 7(a) and 7(b) of the Series Supplement), to cause a distribution of Underlying Securities to the Warrant Holder in accordance with Section 7(a) of the Series Supplement, provided, however, that if such Call Notice and Optional Exchange is in connection with a tender offer or a redemption, the Warrant Agent shall instruct the Trustee to distribute to the exercising Warrant Holder the excess of the tender offer or redemption proceeds over the Call Price pursuant to Section 7(g)(iii) or Section 7(h)(iii), as applicable, of the Series Supplement, or
(b) if the Call Warrants are being exercised by the Depositor or any Affiliate of the Depositor, to cause the Called Underlying Securities to be sold pursuant to Section 13 of the Series Supplement and to distribute the proceeds of such sale to the Warrant Holder. If such exercise is in part only, the Warrant Agent shall (i) in the case of a Global Call Warrant, cause the Registered Warrant Amount to be decreased to reflect the outstanding Call Warrants of the Warrant Holder and (ii) in the case of a Certificated Call Warrant, instruct the Trustee to authenticate new Call Warrants of like tenor, representing the outstanding Call Warrants of the Warrant Holder, and the Warrant Agent shall deliver such Call Warrants to the Warrant Holder. In each case, the Trustee shall act in accordance with such instructions.
Appears in 4 contracts
Sources: Corporate Backed Trust Certificates (Lehman Abs Daimlerchrysler Deb-BKD Ser 2003-15), Corporate Backed Trust Certificates (Lehman Abs Daimlerchrysler Deb-BKD Ser 2003-15), Series Supplement (Lehman Abs Corp Boeing Securities Back Ser 2003 16 Class a 1)
Transfer of Certificates. As soon as practicable after each surrender of Call Warrants in whole or in part on the Call Date and upon satisfaction of all other requirements described in the Call Warrants and in Section 1.1 hereof, the Warrant Agent shall instruct the Trustee as follows:
(a) if Call Warrants are being exercised by any Warrant Holder other than the Depositor or any Affiliate of the Depositor, to cause the Called Certificates to reflect the Warrant Holder's beneficial ownership of such Certificates and if such Call Notice is also deemed to be a notice of Optional ExchangeExchange (and the Warrant Holder otherwise complies with the provisions of Section 7(a) and Section 7(b) of the Series Supplement), to cause a distribution of Underlying Securities to the Warrant Holder in accordance with Section 7(a) of the Series Supplement, provided, however, that if such Call Notice and Optional Exchange is in connection with a tender offer or a redemption, the Warrant Agent shall instruct the Trustee to distribute to the exercising Warrant Holder the excess of the tender offer or redemption proceeds over the Call Price pursuant to Section 7(g)(iii5(i)(iii) or Section 7(h)(iii7(g)(iii), as applicable, of the Series Supplement, or
(b) if the Call Warrants are being exercised by the Depositor or any Affiliate of the Depositor, to cause the Called Underlying Securities to be sold pursuant to Section 13 of the Series Supplement and to distribute the proceeds of such sale to the Warrant Holder. If such exercise is in part only, the Warrant Agent shall (i) in the case of a Global Call Warrant, cause the Registered Warrant Amount to be decreased to reflect the outstanding Call Warrants of the Warrant Holder and (ii) in the case of a Certificated Call Warrant, instruct the Trustee to authenticate new Call Warrants of like tenor, representing the outstanding Call Warrants of the Warrant Holder, and the Warrant Agent shall deliver such Call Warrants to the Warrant Holder. In each case, the Trustee shall act in accordance with such instructions.
Appears in 2 contracts
Sources: Series Supplement (Lehman Abs Corp Sprint Capital Back Ser 2003 17 Class a 1), Series Supplement (Lehman Abs Corp Sprint Capital Back Ser 2003 17 Class a 1)
Transfer of Certificates. As soon as practicable after each surrender of Call Warrants in whole or in part on the Call Date and upon satisfaction of all other requirements described in the Call Warrants and in Section 1.1 hereof, the Warrant Agent shall instruct the Trustee as follows:
(a) if Call Warrants are being exercised by any Warrant Holder other than the Depositor or any Affiliate of the Depositor, to cause the Called Certificates to reflect the Warrant Holder's beneficial ownership of such Certificates and if such Call Notice is also deemed to be a notice of Optional Exchange, to cause a distribution of Underlying Securities to the Warrant Holder in accordance with Section 7(a) of the Series Supplement, provided, however, that if such a Call Notice and Optional Exchange is in connection with a tender offer or a redemption, the Warrant Agent shall instruct the Trustee to distribute to the exercising Warrant Holder the excess of the tender offer or redemption proceeds over the Call Price pursuant to Section 5(h)(iii) and Section 7(g)(iii) or Section 7(h)(iii), as applicable, of the Series Supplement, as applicable, or
(b) if the Call Warrants are being exercised by the Depositor or any Affiliate of the Depositor, to cause the Called Underlying Securities to be sold pursuant to Section 13 of the Series Supplement and to distribute the proceeds of such sale to the Warrant Holder. .
(c) If such exercise is in part only, the Warrant Agent shall (i) in the case of a Global Call Warrant, cause the Registered Warrant Amount to be decreased to reflect the outstanding Call Warrants of the Warrant Holder and (ii) in the case of a Certificated Call Warrant, instruct the Trustee to authenticate new Call Warrants of like tenor, representing the outstanding Call Warrants of the Warrant Holder, Holder and the Warrant Agent shall deliver such Call Warrants to the Warrant Holder. In each case, the Trustee shall act in accordance with such instructions.
Appears in 2 contracts
Sources: Series Supplement (Lehman Abs Corp Duke Capital Note Backed Series 2003-3), Series Supplement (Lehman Abs Corp Duke Capital Note Backed Series 2003-3)
Transfer of Certificates. As soon as practicable after each surrender of Call Warrants in whole or in part on the Call Date and upon satisfaction of all other requirements described in the Call Warrants and in Section 1.1 hereof, the Warrant Agent shall instruct the Trustee as follows:
(a) if Call Warrants are being exercised by any Warrant Holder other than the Depositor or any Affiliate of the Depositor, to cause the Called Certificates to reflect the Warrant Holder's beneficial ownership of such Certificates and if such Call Notice is also deemed to be a notice of Optional Exchange, to cause a distribution of Underlying Securities to the Warrant Holder in accordance with Section 7(a) of the Series Supplement, provided, however, that if such a Call Notice and Optional Exchange is in connection with a tender offer or a redemptionoffer, the Warrant Agent shall instruct the Trustee to distribute to the exercising Warrant Holder the excess of the tender offer or redemption proceeds over the Call Price pursuant to Section Sections 5(h)(iii) and 7(g)(iii) or Section 7(h)(iii), as applicable, of the Series Supplement, or
(b) if the Call Warrants are being exercised by the Depositor or any Affiliate of the Depositor, to cause the Called Underlying Securities to be sold pursuant to Section 13 of the Series Supplement and to distribute the proceeds of such sale to the Warrant Holder. If such exercise is in part only, the Warrant Agent shall (i) in the case of a Global Call Warrant, cause the Registered Warrant Amount to be decreased to reflect the outstanding Call Warrants of the Warrant Holder and (ii) in the case of a Certificated Call Warrant, instruct the Trustee to authenticate new Call Warrants of like tenor, representing the outstanding Call Warrants of the Warrant Holder, Holder and the Warrant Agent shall deliver such Call Warrants to the Warrant Holder. In each case, the Trustee shall act in accordance with such instructions.
Appears in 2 contracts
Sources: Series Supplement (Lehman Abs Corp Sears Roebuck Accep Note Backed Ser 2003 5), Series Supplement (Lehman Abs Corp Sears Roebuck Accep Note Backed Ser 2003 5)
Transfer of Certificates. As soon as practicable after each surrender of Call Warrants Warrants, in whole or in part part, on the Call Date and upon satisfaction of all other requirements described in the Call Warrants and in Section 1.1 hereof, the Warrant Agent shall instruct the Trustee as follows:
(a) if Call Warrants are being exercised by any Warrant Holder other than the Depositor or any Affiliate of the Depositor, to cause the Called Certificates to reflect the Warrant Holder's beneficial ownership of such Certificates and if such Call Notice is also deemed to be a notice of Optional Exchange, to cause a distribution of Underlying Securities to the Warrant Holder in accordance with Section 7(a) of the Series Supplement, provided, however, that if such a Call Notice and Optional Exchange is in connection with a tender offer or a redemptionoffer, the Warrant Agent shall instruct the Trustee to distribute to the exercising Warrant Holder the excess of the tender offer or redemption proceeds over the Call Price pursuant to Section Sections 5(h)(iii) and 7(g)(iii) or Section 7(h)(iii), as applicable, of the Series Supplement, or
(b) if the Call Warrants are being exercised by the Depositor or any Affiliate of the Depositor, to cause the Called Underlying Securities to be sold pursuant to Section 13 of the Series Supplement and to distribute the proceeds of such sale to the Warrant Holder. If such exercise is in part only, the Warrant Agent shall (i) in the case of a Global Call Warrant, cause the Registered Warrant Amount to be decreased to reflect the outstanding Call Warrants of the Warrant Holder and (ii) in the case of a Certificated Call Warrant, instruct the Trustee to authenticate new Call Warrants of like tenor, representing the outstanding Call Warrants of the Warrant Holder, Holder and the Warrant Agent shall deliver such Call Warrants to the Warrant Holder. In each case, the Trustee shall act in accordance with such instructions.
Appears in 2 contracts
Sources: Series Supplement (Lehman Abs Corp Ford Motor Co Note Backed Ser 2003-6), Series Supplement (Lehman Abs Corp Ford Motor Co Note Backed Ser 2003-6)
Transfer of Certificates. As soon as practicable after each surrender of Call Warrants in whole or in part on the Call Date and upon satisfaction of all other requirements described in the Call Warrants and in Section 1.1 hereof, the Warrant Agent shall instruct the Trustee as follows:
(a) if Call Warrants are being exercised by any Warrant Holder other than the Depositor or any Affiliate of the Depositor, to cause the Called Certificates to reflect the Warrant Holder's beneficial ownership of such Certificates and if such Call Notice is also deemed to be a notice of Optional ExchangeExchange (and the Warrant Holder otherwise complies with the provisions of Section 7(a) and Section 7(b) of the Series Supplement), to cause a distribution of Underlying Securities to the Warrant Holder in accordance with Section 7(a) of the Series Supplement, provided, however, that if such Call Notice and Optional Exchange is in connection with a tender offer or a redemption, the Warrant Agent shall instruct the Trustee to distribute to the exercising Warrant Holder the excess of the tender offer or redemption proceeds over the Call Price pursuant to Section 7(g)(iii5(h)(iii) or Section 7(h)(iii7(f)(iii), as applicable, of the Series Supplement, or
(b) if the Call Warrants are being exercised by the Depositor or any Affiliate of the Depositor, to cause the Called Underlying Securities to be sold pursuant to Section 13 of the Series Supplement and to distribute the proceeds of such sale to the Warrant Holder. If such exercise is in part only, the Warrant Agent shall (i) in the case of a Global Call Warrant, cause the Registered Warrant Amount to be decreased to reflect the outstanding Call Warrants of the Warrant Holder and (ii) in the case of a Certificated Call Warrant, instruct the Trustee to authenticate new Call Warrants of like tenor, representing the outstanding Call Warrants of the Warrant Holder, and the Warrant Agent shall deliver such Call Warrants to the Warrant Holder. In each case, the Trustee shall act in accordance with such instructions.
Appears in 2 contracts
Sources: Series Supplement (Lehman Abs Corp Bellsouth Debt- Backed Ser 2003-14), Series Supplement (Lehman Abs Corp Bellsouth Debt- Backed Ser 2003-14)
Transfer of Certificates. As soon as practicable after each surrender of Call Warrants in whole or in part on the Call Date and upon satisfaction of all other requirements described in the Call Warrants and in Section 1.1 hereof, the Warrant Agent shall instruct the Trustee as follows:
(a) if Call Warrants are being exercised by any Warrant Holder other than the Depositor or any Affiliate of the Depositor, to cause the Called Certificates to reflect the Warrant Holder's beneficial ownership of such Certificates and if such Call Notice is also deemed to be a notice of Optional ExchangeExchange (and the Warrant Holder otherwise complies with the provisions of Section 7(a) and Section 7(b) of the Series Supplement), to cause a distribution of Underlying Securities to the Warrant Holder in accordance with Section 7(a) of the Series Supplement, provided, however, that if such Call Notice and Optional Exchange is in connection with a tender offer or a redemption, the Warrant Agent shall instruct the Trustee to distribute to the exercising Warrant Holder the excess of the tender offer or redemption proceeds over the Call Price pursuant to Section 7(g)(iii5(h)(iii) or Section 7(h)(iii7(g)(iii), as applicable, of the Series Supplement, or
(b) if the Call Warrants are being exercised by the Depositor or any Affiliate of the Depositor, to cause the Called Underlying Securities to be sold pursuant to Section 13 of the Series Supplement and to distribute the proceeds of such sale to the Warrant Holder. If such exercise is in part only, the Warrant Agent shall (i) in the case of a Global Call Warrant, cause the Registered Warrant Amount to be decreased to reflect the outstanding Call Warrants of the Warrant Holder and (ii) in the case of a Certificated Call Warrant, instruct the Trustee to authenticate new Call Warrants of like tenor, representing the outstanding Call Warrants of the Warrant Holder, and the Warrant Agent shall deliver such Call Warrants to the Warrant Holder. In each case, the Trustee shall act in accordance with such instructions.
Appears in 2 contracts
Sources: Series Supplement (Lehman Abs Corp Prudential Financial Note Backed Se 2003 20), Series Supplement (Lehman Abs Corp Prudential Financial Note Backed Se 2003 20)
Transfer of Certificates. As soon as practicable after each surrender of Call Warrants in whole or in part on the Call Date and upon satisfaction of all other requirements described in the Call Warrants and in Section 1.1 hereof, the Warrant Agent shall instruct the Trustee as follows:
(a) if Call Warrants are being exercised by any Warrant Holder other than the Depositor or any Affiliate of the Depositor, to cause the Called Certificates to reflect the Warrant Holder's beneficial ownership of such Certificates and if such Call Notice is also deemed to be a notice of Optional Exchange, to cause a distribution of Underlying Securities to the Warrant Holder in accordance with Section 7(a) of the Series Supplement, provided, however, that if such Call Notice and Optional Exchange is in connection with a tender offer or a redemption, the Warrant Agent shall instruct the Trustee to distribute to the exercising Warrant Holder the excess of the tender offer or redemption proceeds over the Call Price pursuant to Section 7(g)(iii) or Section 7(h)(iii), as applicable, of the Series Supplement, or
(b) if the Call Warrants are being exercised by the Depositor or any Affiliate of the Depositor, to cause the Called Underlying Securities to be sold pursuant to Section 13 15 of the Series Supplement and to distribute the proceeds of such sale to the Warrant Holder. If such exercise is in part only, the Warrant Agent shall (i) in the case of a Global Call Warrant, cause the Registered Warrant Amount to be decreased to reflect the outstanding Call Warrants of the Warrant Holder and (ii) in the case of a Certificated Call Warrant, instruct the Trustee to authenticate new Call Warrants of like tenor, representing the outstanding Call Warrants of the Warrant Holder, Holder and the Warrant Agent shall deliver such Call Warrants to the Warrant Holder. In each case, the Trustee shall act in accordance with such instructions.
Appears in 2 contracts
Sources: Callable Zero Coupon Trust Certificates (Lehman Abs Corp), Callable Zero Coupon Trust Certificates Series Supplement (Lehman Abs Corp)
Transfer of Certificates. As soon as practicable after each surrender of Call Warrants in whole or in part on the Call Date and upon satisfaction of all other requirements described in the Call Warrants and in Section 1.1 hereof, the Warrant Agent shall instruct the Trustee as follows:
(a) if Call Warrants are being exercised by any Warrant Holder other than the Depositor or any Affiliate of the Depositor, to cause the Called Certificates to reflect the Warrant Holder's beneficial ownership of such Certificates and if such Call Notice is also deemed to be a notice of Optional Exchange, to cause a distribution of Underlying Securities to the Warrant Holder in accordance with Section 7(a) of the Series Supplement, provided, however, that if such a Call Notice and Optional Exchange is in connection with a tender offer or a redemptionoffer, the Warrant Agent shall instruct the Trustee to distribute to the exercising Warrant Holder the excess of the tender offer or redemption proceeds over the Call Price pursuant to Section Sections 5(h)(iii) and 7(g)(iii) or Section 7(h)(iii), as applicable, of the Series Supplement, or
(b) if the Call Warrants are being exercised by the Depositor or any Affiliate of the Depositor, to cause the Called Underlying Securities to be sold pursuant to Section 13 of the Series Supplement and to distribute the proceeds of such sale to the Warrant Holder. .
(c) If such exercise is in part only, the Warrant Agent shall (i) in the case of a Global Call Warrant, cause the Registered Warrant Amount to be decreased to reflect the outstanding Call Warrants of the Warrant Holder and (ii) in the case of a Certificated Call Warrant, instruct the Trustee to authenticate new Call Warrants of like tenor, representing the outstanding Call Warrants of the Warrant Holder, Holder and the Warrant Agent shall deliver such Call Warrants to the Warrant Holder. In each case, the Trustee shall act in accordance with such instructions.
Appears in 2 contracts
Sources: Series Supplement (Lehman Abs Corp Sears Roebuck Accep Note Back Ser 2003-1), Series Supplement (Lehman Abs Corp Sears Roebuck Accep Note Back Ser 2003-1)